Christmas can be such an expensive time of year and it can be easy to blow out the credit card debt and then have to deal with that in the new year.
Here are 5 tips to keep the cost of Christmas down:
- Budget: Number one tip is to work out how much you have to spend. Write a list of who you have to buy for and then set an amount you can spend per person and ideas for gifts you can get within that price. Take this list to the shops and stick to your budget. And remember that everyone doesn’t need to get an extravagant gift, it’s the thought that counts, only buy what you can afford. Something for next year, you could put a small amount away every pay all year and you’d have a kitty to spend come Christmas.
- Gifts: Decide who you really want/need to give gifts too. Even make it all about the kids and give presents to kids only. Another great idea to reduce cost if you have a big family is to do a KK and everyone in the family buys one present to a certain dollar amount and then everyone gets one present each and only has to buy one too. You could also buy group presents where everyone puts in a $5/10 and combines it to get a bigger present.
- Shop around: Prices can vary greatly with toys and goods at this time of the year and it certainly pays to check out a few stores before you buy. I have found some toys were $10 or more cheaper at Kmart than other stores, this adds up if you save on a few presents.
- Vouchers: If you have to post presents to relatives, it is great to send vouchers as it will save you a fortune in postage. Even with some overseas stores you can get an email voucher to give.
- Credit: Don’t be lured into buying on credit as if you don’t pay it back in the interest free period, those Christmas presents could be costing you a whole lot more and it could affect your finances well into the new year.
Do you have a Christmas money saver tip to share?
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